DeFi
Chainlink Data Streams Launches on Avalanche Mainnet with GMX V2
Chainlink Data Feeds are Officially Live at avalancheAccording to a recent announcement from Chainlink, Avalanche and GMX, an on-chain perpetual and spot crypto exchange
The major integration has GMX as a launch partner who will help power Avalanche’s decentralized finance (DeFi) marketplace.
Avalanche’s dApps ecosystem will benefit from Chainlink Data Streams’ on-demand access to low-latency market data via GMX V2 integration, platforms said.
Chainlink Data Streams will boost Avalanche DeFi
GMX is the leading decentralized perpetual exchange (DEX) platform by total value locked (TVL) on Arbitrum and Avalanche. GMX V2 leverages Chainlink data feeds for high-frequency market data and automated trade settlement. Specifically, the exchange leverages transaction settlement through Chainlink data feeds and triggers halts and liquidations.
The integration will allow it to use these features to strengthen the Avalanche DeFi ecosystem.
“The integration of GMX Data Streams on the Avalanche mainnet aims to expand on the success of our GMX V2 launch,” said Coinflip, a major contributor to GMX. “Chainlink Data Streams has contributed significantly to the speed and resiliency of the decentralized exchange, and we are excited to bring these same benefits to all traders and liquidity providers in the Avalanche community,” added Coinflip.
Thanks to Chainlink’s high-frequency market data and decentralized infrastructure mechanism, data feeds enable developers to deliver high-throughput DeFi products with a user experience comparable to centralized exchanges (CEX).
However, it also offers massive on-chain execution speed and security. Notably, data feeds are backed by Chainlink’s robust, decentralized infrastructure.
“By providing unparalleled speed and resilience, data feeds enable DeFi protocols to deliver ultra-fast, high-throughput DeFi products while maintaining the high security guarantees of on-chain finance,” said Johann Eid, Director commercial from Chainlink Labs.
Other DeFi protocols that have followed GMX in integrating data feeds include PancakeSwap, ApolloX, Marquee, DRX Exchange, and YFX.